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The prime minister's office (PMO) has once again stepped in to resolve the pending issue of fuel supply pacts between power companies and Coal India . Sources indicate that the PMO accepted trigger levels of 65% on FSA versus 80% earlier and asked for removal of the three-year moratorium on FSAs. The PMO is in favour of the pre-2009 level of penalty.

Suzlon provides its Chinese suppliers device for Rs 341 crore.

LIC has increased its share in Cairn Indian to 5.02% from 4.97% on May 19.

Coal India hikes prices in select Western blocks by 10-15%, reports the PTI.

Bankers have agreed to give HCC an additional loan of Rs 1500 crore if promoters infuse Rs 302 crore, reports the Economic Times.

ONGC is mulling to list ONGC Videsh Ltd next year to raise funds for acquisitions, reports the Financial Express.

The Andhra Pradesh High Court has issued an interim order suspending the DRDA’s notice to cancel SKS Microfinance ’s registration in Mahabunagar district, reports the Business Standard.

GVK has launched legal proceedings against KFA for dishonored cheques, reports the Economic Times.

Jet Airways has sought government approval to reduce flights to the North East by half, to cut losses, reports the Business Standard.

MahaGenco has taken Coal India’s arm to the competition tribunal, reports the Business Standard.

Tata Communications is eyeing deals in the UK and US, reports the Financial Express.

Maruti has started trial runs of a new 800cc car, reports the Mint.

The government revives plans to convert Rs 522 crore IFCI debt into equity.

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